The objective of the challenge launched from New York is to give grants to people who innovate while working to transform the lives of informal workers. Participants will need to present solutions that will uplift the lives of the poor and the vulnerable in informal economies in many countries.

Launched on the occasion to celebrate the centennial anniversary of The Rockefeller Foundation, the Centennial Innovation Challenge will consider 10 finalists and give them the opportunity to apply for grant upto $100,000 grant, and also help out in writing proposals to help and support submitted ideas.

Ideas for the 2013 Centennial Innovation Challenge are being accepted online at challenge.rockefellerfoundation.org, and the deadline for submission is April 1, 2013. To enter the competition, one needs to meet eligibility requirements and other official conditions.

Latest data indicates that 1.8 billion people are part of the informal economy, which comprises of business enterprises and jobs available and operating outside of government regulation. These kind of workers don't have basic safety nets facilities such as health insurance and pension. In case of no pay or unhealthy work environment and mistreatment, they find themsleves helpless. Providing better work and social rights empower millions better livelihood.

“The Rockefeller Foundation is looking to tap the ingenuity and dedication of today’s social innovators to address the world’s most urgent challenges and ensure that informal workers can achieve equitable growth, all while building resilience in an increasingly volatile world,” said Dr. Judith Rodin, President of The Rockefeller Foundation. “Together, we can chart new paths that will transform the lives of the billions working in informal economies across the globe.”

In North Africa and Latin America the informal economy accounts for around 50% of employment, 65% of employment in Asia, and 72% in Sub-Saharan Africa. The Rockefeller Foundation seeks to achieve balanced growth by widening the range of opportunities for more people in more regions worldwide by providing better health case to cope with struggles of livelihood.

About The Author

Mr. Raj K Pathak has been passionately promoting entrepreneurship through various media platforms for over two decades and is well known for conceptualizing and producing India's first Television show titled BUSINESS MANTRA for small business and entrepreneurship.
Connect with the columnist: pathak560@gmail.com